“I am being sacked,” texted Cyrus Mistry to wife Rohiqa on October 24, 2016, minutes after he was informed that he was going to be fired at the Tata Sons board meeting that he was about to attend at 2pm.
Kumar said, “By eschewing the public humiliation of Mistry, the bloody aftermath that followed could have been avoided. Unfortunately, instead there was the subsequent public airing of the underbelly of the Tata Group as well as the deleterious impact on the reputations of Ratan Tata, Mistry and the Tata brand.” Mistry’s contract was due to expire on March 31, 2017. “Instead of a sudden, no warning dismissal, the board could have just let the clock run out in five months,” he said.
Kumar, who is now a marketing professor with Singapore Management University, said that to date, the Tatas haven’t given a valid reason for removing Mistry. The blog states that CEOs being fired is always news, despite it not being a terribly uncommon occurrence. “What made the firing of Mistry so unusual was that Tata Group had a history of only six chairman over 148 years!”
The Tata Group, which is not known for a ‘hire-and fire’ policy, had selected Mistry after a careful scrutiny that went on for more than a year, he pointed out.